Property Details

# of Units: 69 total units; 61 restricted income & 8 market rate
Type: Single family detached and duplex
Occupancy: Owner occupied
AMI Target: 80%-160% AMI
Neighborhood Amenities: Open green space, trails, energy efficient homes, proximity to schools and downtown Frisco
Construction Complete: Winter of 2015

Restrictive Covenant Highlights

Employment: 30+ hours per week on an annual basis in Summit County
Income Limits: 80% – 160% AMI
Appreciation Limit: Lesser of 3% per year or % change in AMI
Commission: 1.75% of the resale price can be added to final resale price
Capital Improvements: Permitted Capital Improvements (PCIs) are broken into 4 categories based on AMI; 80% are not allowed PCI; units up to 120% AMI PCI can be added up to 10% of base price upon approval; units up to 160% AMI may add any amount of PCI upon approval
Retirement: A person over 65 years of age shall remain a resident as long as they have occupied the unit for at least 7 years prior to retirement
Rent: No short term rental allowed; owners can rent rooms to qualified tenants upon approval

Restrictive Covenants

Because each home in the Peak One Neighborhood has a different restrictive covenant, please contact the SCHA with the address of the property.

Please note that the information provided on this page is for convenience only and is not a substitute for a full recorded document search and review.